Hengyuan surges nearly 30pct or RM1 to end at four-year high

KUALA LUMPUR - Hengyuan Refining Company Bhd's shares reached a four-year high on Thursday after surging nearly 30 percent. The stock climbed 29.9 percent, or RM1, to close at RM4.34, with over 22 million shares changing hands. Hengyuan opened lower on Friday, at RM3.26, compared to its RM3.34 closing price, before settling at RM3.49 at the midday break.

Trading resumed at 2.30pm, triggering accelerated buying momentum that propelled the share price even higher. Over the course of the year, Hengyuan's stock has skyrocketed 460 percent, with its market value now at RM2 billion. In the first quarter ending March 31, 2026, the company turned profitable, posting a net profit of RM525.55 million after a net loss of RM170.45 million in the same period the previous year.

This trend continued into the second quarter, which ended June 30, 2026, with Hengyuan reporting a net profit of RM600.54 million, a 14.3 percent increase quarter-on-quarter. In the first half of 2026, Hengyuan's net profits surpassed RM1.13 billion, a stark contrast to a net loss of RM353.7 million a year earlier. Hengyuan's shares have seen a more than 250 percent rally since the start of the US-Iran conflict in February.